[ET Net News Agency, 31 October 2018] Fullshare Holdings Limited (00607) said its
wholly-owned subsidiary Fullshare Dazu has entered into a joint development agreement with
Changzhou Hengchen and Shengyu.
Pursuant to the deal, Fullshare Dazu shall invest RMB1 billion in Changzhou Project
Company, of which RMB827.88 million will be injected as registered capital and RMB172.12
million will be included as capital reserves.
Upon completion of the capital increase, the registered capital of Changzhou Project
Company will increase to RMB1,881.54 million, and Changzhou Hengchen, Shengyu and
Fullshare Dazu will hold 46%, 10% and 44% equity interests in Changzhou Project Company
respectively, in proportion to their respective contributions to the registered capital.
Changzhou Project Company is primarily engaged in real estate development and operation,
real estate consultation services, housing construction projects and landscaping project
constructions. Changzhou Project Company is held as to 82% and 18% by Changzhou Hengchen
and Shengyu, respectively.
Changzhou Project Company has obtained the construction land use right of a parcel of
land located in Changzhou of Jiangsu Province, with a planned land area of 76,359 square
meters. (KL)